Demarco and Jenine Jackson have been married for 20 years and have four children (no children under age 6 st year- end) who qualify as their dependents (Demarcus, Jasmine, Michael, and Condice). The couple received salary income of $101,900 and qualified business income of $10,000 from an investment in a partnership, and they sold their home this year. They initially purchased the home three years ago for $238,000 and they sold it for $345.000. The gain on the sale qualified for the exclusion from the sale of a principal residence. The Jacksons incurred $18.400 of itemized deductions (no charitable contributions), and they had $1,000 withheld from their paychecks for federal taxes. They are also allowed to claim a child tax credit for each of their children. However, because Candice was 18 years of age at year end, the Jacksons may claim a child tax credit for other qualifying dependents for Candice. (Use the tax rate schedules.) Comprehensive Problem 4-56 Parts-C through f (Algo) c. What would their taxable income be if their itemized deductions totaled $31.800 instead of $13.400? Description Amount (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) ltemized deductions (7) Deduction for qualified business income (8) Total deductions from AGI Taxable income d. What would their texable income be if they hed $0 itemized deductions and $7.900 of for AGI deductions? Amount Description (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) itemized deductions (7) Deduction for qualified business income (B) Total deductions from AGI Taxable income e. Assume the original facts but now suppose the Jacksons also incurred a loss of $6.900 on the sale of some of their investment assets. Whet effect does the $6,900 loss have on their taxable income